Global financial services provider JPMorgan filed an application with the SEC to launch crypto product through public-company stocks.
The group of companies involves major entities attracted to cryptocurrencies. Among them are MicroStrategy, Square, PayPal, and others. Recently PayPal bought crypto custody firm Curv. It was mentioned in the paper that the notes don't provide direct exposure to crypto assets. They will pay out based on the basket companies’ performance less a 1.5% deduction – essentially the fee.
The notes are expected to price on or about March 26, 2021, and are expected to settle on or about March 31, 2021.
Trending: Salvadorans are against buying bitcoins at the expense of the budget
One note costs $1.000 at minimum. The observation date is set for May 2, 2022, and the maturity date is on May 5, 2022.Wall Street businesses continue to show interest in the crypto industry. Recently investment firm Goldman Sachs disclosed plans to launch a service for operations with cryptocurrencies.